The group will also use the fund for the repayment of loans of the company and its subsidiaries.
Casual dining chain Barbeque Nation Hospitality Ltd has filed draft documents for an initial public offering (IPO) with Securities and Exchange Board of India (Sebi).
The group is planning to raise about Rs 700 crore to expand the restaurant chain in India and global market.
Barbeque Nation files IPO papers to raise Rs 700 crore The IPO of company, which operates Barbeque Nation restaurants, comprises of a fresh issue of up to Rs 200 crore besides an offer for sale of up to 61.79 lakh equity shares by company’s promoters, including Aajv Investment Trust, Tamara, Azhar Dhanani, Kayum Dhanani, Sanya Dhanani and Sadiya Dhanani, according to a release issued by the company.
The group will also use the fund for the repayment of loans of the company and its subsidiaries. “The offer includes a reservation of up to 1.5 lakh equity shares, for subscription by eligible employees,” it added.